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By Jarret Bencks, Town Correspondent

A 5,500 square-foot center for teens is set to open in Malden Wednesday, according to an announcement from the city.

The Malden Teen Enrichment Center at 1 Salem St., the former location of a Danvers Bank, is set to receive about $110,000 in city funds in 2013 to rent the space, employ a program coordinator and two part-time workers, and pay for other expenses, according to the city budget.

The center is located close to Malden High School and will offer leadership and youth development programs and other activities.

An official ribbon cutting will be held at 2:30 p.m. Wednesday outside the center.